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  1. 200 EMA breakout stocks today: Bank of India and Godavari power Ispat among others close above their 200 EMA levels; Check details

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200 EMA breakout stocks today: Bank of India and Godavari power Ispat among others close above their 200 EMA levels; Check details

Upstox

2 min read | Updated on April 02, 2025, 09:28 IST

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SUMMARY

NIFTY50 and SENSEX closed below their 200 EMA levels, signalling pain ahead in the coming weeks. Investors and market participants await tariff announcements on Wednesday. Despite broader weakness, Bank of India and GPIL shares will remain in focus as they close above their 200 EMA levels on Tuesday.

The technical structure of the NIFTY50 index as per the daily chart looks sideways to bullish.

The technical setup for benchmark indices remains slightly bearish after breaking 200 EMA support. Image souce: Shutterstock.

Indian equity benchmarks are likely to make a flat-to-positive start on Wednesday after a significant drop in the previous session, ahead of U.S. President Donald Trump’s announcement on reciprocal tariffs. Some cautiousness may come as foreign institutional investors (FIIs) turned net sellers, selling equities worth ₹5,901.63 crore on April 1. Investors will be looking ahead to the manufacturing PMI data to be out later in the day.

On technical charts, NIFTY50 broke the crucial 200 EMA support and closed below it, indicating a change in trend from slightly bullish to bearish. Similarly, SENSEX closed below its short, medium and long-term moving averages on daily charts, indicating more pain ahead

Despite the broader weakness in the markets, few stocks grew above their 200 EMA levels.

Bank of India

BANKINDIA-EQ_2025-04-02_09-14-45.webp Shares of Bank of India closed nearly 3% higher on Tuesday, closing above its 200 EMA level on a daily chart. The shares have jumped over 20% from the lows and still trade 30% below the record high levels

Godavari Power & Ispat Ltd

GPIL-EQ_2025-04-02_09-14-53.webp Shares of power and steel maker Godawari Power & Ispat Ltd closed 5.1% higher on the NSE at ₹189, crossing its 200 EMA of ₹184 on daily charts. The shares have gained more than 30% from the lower levels.
Disclaimer: This article is for informational purposes only and must not be considered investment advice from Upstox. Past returns are not indicative of future performance. Please consult with a financial advisor before trading and investing.
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